vs
Alignment Healthcare, Inc.（ALHC）与瑞思迈（RMD）财务数据对比。点击上方公司名可切换其他公司
瑞思迈的季度营收约是Alignment Healthcare, Inc.的1.4倍（$1.4B vs $1.0B），瑞思迈净利率更高（27.6% vs -1.1%，领先28.7%），Alignment Healthcare, Inc.同比增速更快（44.4% vs 11.0%），过去两年Alignment Healthcare, Inc.的营收复合增速更高（26.9% vs 7.9%）
Alignment Healthcare是总部位于美国的医疗保健企业，主打联邦医疗保险优势计划，为老年群体提供协调医疗服务、处方药保障及补充福利，采用价值导向医疗模式，与本土医疗机构合作，业务覆盖美国多个州，致力提升患者健康水平。
瑞思迈是一家起源于澳大利亚、总部位于美国加利福尼亚州圣迭戈的医疗设备企业，主打可接入云端的呼吸类医疗设备，用于治疗睡眠呼吸暂停、慢性阻塞性肺病等呼吸道疾病，新冠疫情期间曾大量生产呼吸机等设备助力患者救治。
ALHC vs RMD — 直观对比
营收规模更大
RMD
是对方的1.4倍
$1.0B
营收增速更快
ALHC
高出33.5%
11.0%
净利率更高
RMD
高出28.7%
-1.1%
两年增速更快
ALHC
近两年复合增速
7.9%
损益表 — Q4 FY2025 vs Q4 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.0B | $1.4B |
| 净利润 | $-11.0M | $392.6M |
| 毛利率 | — | 61.8% |
| 营业利润率 | -1.0% | 34.6% |
| 净利率 | -1.1% | 27.6% |
| 营收同比 | 44.4% | 11.0% |
| 净利润同比 | 64.6% | 13.9% |
| 每股收益（稀释后） | $-0.04 | $2.68 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收ALHCRMD
| Q2 26 | — | $1.4B | ||
| Q4 25 | $1.0B | $1.4B | ||
| Q3 25 | $993.7M | $1.3B | ||
| Q2 25 | $1.0B | $1.3B | ||
| Q1 25 | $926.9M | $1.3B | ||
| Q4 24 | $701.2M | $1.3B | ||
| Q3 24 | $692.4M | $1.2B | ||
| Q2 24 | $681.3M | $1.2B |
净利润ALHCRMD
| Q2 26 | — | $392.6M | ||
| Q4 25 | $-11.0M | $392.6M | ||
| Q3 25 | $3.7M | $348.5M | ||
| Q2 25 | $15.7M | $379.7M | ||
| Q1 25 | $-9.1M | $365.0M | ||
| Q4 24 | $-31.1M | $344.6M | ||
| Q3 24 | $-26.4M | $311.4M | ||
| Q2 24 | $-24.0M | $292.2M |
毛利率ALHCRMD
| Q2 26 | — | 61.8% | ||
| Q4 25 | — | 61.8% | ||
| Q3 25 | — | 61.5% | ||
| Q2 25 | — | 60.8% | ||
| Q1 25 | — | 59.3% | ||
| Q4 24 | — | 58.6% | ||
| Q3 24 | — | 58.6% | ||
| Q2 24 | — | 58.5% |
营业利润率ALHCRMD
| Q2 26 | — | 34.6% | ||
| Q4 25 | -1.0% | 34.6% | ||
| Q3 25 | 0.8% | 33.4% | ||
| Q2 25 | 2.2% | 33.7% | ||
| Q1 25 | -0.6% | 33.0% | ||
| Q4 24 | -3.2% | 32.5% | ||
| Q3 24 | -2.8% | 31.6% | ||
| Q2 24 | -2.7% | 31.2% |
净利率ALHCRMD
| Q2 26 | — | 27.6% | ||
| Q4 25 | -1.1% | 27.6% | ||
| Q3 25 | 0.4% | 26.1% | ||
| Q2 25 | 1.5% | 28.2% | ||
| Q1 25 | -1.0% | 28.3% | ||
| Q4 24 | -4.4% | 26.9% | ||
| Q3 24 | -3.8% | 25.4% | ||
| Q2 24 | -3.5% | 23.9% |
每股收益（稀释后）ALHCRMD
| Q2 26 | — | $2.68 | ||
| Q4 25 | $-0.04 | $2.68 | ||
| Q3 25 | $0.02 | $2.37 | ||
| Q2 25 | $0.07 | $2.58 | ||
| Q1 25 | $-0.05 | $2.48 | ||
| Q4 24 | $-0.15 | $2.34 | ||
| Q3 24 | $-0.14 | $2.11 | ||
| Q2 24 | $-0.13 | $1.97 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $604.2M | $1.4B |
| 总债务越低越好 | $323.2M | $663.8M |
| 股东权益账面价值 | $179.3M | $6.3B |
| 总资产 | $1.1B | $8.5B |
| 负债/权益比越低杠杆越低 | 1.80× | 0.11× |
8季度趋势，按日历期对齐
现金及短期投资ALHCRMD
| Q2 26 | — | $1.4B | ||
| Q4 25 | $604.2M | $1.4B | ||
| Q3 25 | $644.1M | $1.4B | ||
| Q2 25 | $503.8M | $1.2B | ||
| Q1 25 | $479.5M | $932.7M | ||
| Q4 24 | $470.6M | $521.9M | ||
| Q3 24 | $381.0M | $426.4M | ||
| Q2 24 | $363.7M | $238.4M |
总债务ALHCRMD
| Q2 26 | — | $663.8M | ||
| Q4 25 | $323.2M | $403.9M | ||
| Q3 25 | $322.7M | $408.7M | ||
| Q2 25 | $322.3M | $658.4M | ||
| Q1 25 | $321.9M | $663.1M | ||
| Q4 24 | $321.4M | $662.9M | ||
| Q3 24 | $212.0M | $667.6M | ||
| Q2 24 | $211.7M | $697.3M |
股东权益ALHCRMD
| Q2 26 | — | $6.3B | ||
| Q4 25 | $179.3M | $6.3B | ||
| Q3 25 | $161.9M | $6.1B | ||
| Q2 25 | $141.0M | $6.0B | ||
| Q1 25 | $108.1M | $5.5B | ||
| Q4 24 | $99.9M | $5.3B | ||
| Q3 24 | $114.5M | $5.2B | ||
| Q2 24 | $123.7M | $4.9B |
总资产ALHCRMD
| Q2 26 | — | $8.5B | ||
| Q4 25 | $1.1B | $8.5B | ||
| Q3 25 | $1.1B | $8.3B | ||
| Q2 25 | $1.0B | $8.2B | ||
| Q1 25 | $895.6M | $7.6B | ||
| Q4 24 | $782.1M | $7.1B | ||
| Q3 24 | $692.3M | $7.2B | ||
| Q2 24 | $716.3M | $6.9B |
负债/权益比ALHCRMD
| Q2 26 | — | 0.11× | ||
| Q4 25 | 1.80× | 0.06× | ||
| Q3 25 | 1.99× | 0.07× | ||
| Q2 25 | 2.29× | 0.11× | ||
| Q1 25 | 2.98× | 0.12× | ||
| Q4 24 | 3.22× | 0.13× | ||
| Q3 24 | 1.85× | 0.13× | ||
| Q2 24 | 1.71× | 0.14× |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $-50.4M | — |
| 自由现金流经营现金流 - 资本支出 | $-55.4M | — |
| 自由现金流率自由现金流/营收 | -5.5% | — |
| 资本支出强度资本支出/营收 | 0.5% | — |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $113.1M | — |
8季度趋势，按日历期对齐
经营现金流ALHCRMD
| Q2 26 | — | — | ||
| Q4 25 | $-50.4M | $339.7M | ||
| Q3 25 | $144.6M | $457.3M | ||
| Q2 25 | $29.1M | $538.8M | ||
| Q1 25 | $16.6M | $578.7M | ||
| Q4 24 | $-8.7M | $308.6M | ||
| Q3 24 | $26.2M | $325.5M | ||
| Q2 24 | $23.5M | $440.1M |
自由现金流ALHCRMD
| Q2 26 | — | — | ||
| Q4 25 | $-55.4M | $311.2M | ||
| Q3 25 | $139.1M | $414.4M | ||
| Q2 25 | $21.1M | $508.2M | ||
| Q1 25 | $8.4M | $557.9M | ||
| Q4 24 | $-18.0M | $288.0M | ||
| Q3 24 | $16.9M | $307.7M | ||
| Q2 24 | $11.8M | $415.2M |
自由现金流率ALHCRMD
| Q2 26 | — | — | ||
| Q4 25 | -5.5% | 21.9% | ||
| Q3 25 | 14.0% | 31.0% | ||
| Q2 25 | 2.1% | 37.7% | ||
| Q1 25 | 0.9% | 43.2% | ||
| Q4 24 | -2.6% | 22.5% | ||
| Q3 24 | 2.4% | 25.1% | ||
| Q2 24 | 1.7% | 33.9% |
资本支出强度ALHCRMD
| Q2 26 | — | — | ||
| Q4 25 | 0.5% | 2.0% | ||
| Q3 25 | 0.6% | 3.2% | ||
| Q2 25 | 0.8% | 2.3% | ||
| Q1 25 | 0.9% | 1.6% | ||
| Q4 24 | 1.3% | 1.6% | ||
| Q3 24 | 1.3% | 1.5% | ||
| Q2 24 | 1.7% | 2.0% |
现金转化率ALHCRMD
| Q2 26 | — | — | ||
| Q4 25 | — | 0.87× | ||
| Q3 25 | 38.77× | 1.31× | ||
| Q2 25 | 1.86× | 1.42× | ||
| Q1 25 | — | 1.59× | ||
| Q4 24 | — | 0.90× | ||
| Q3 24 | — | 1.05× | ||
| Q2 24 | — | 1.51× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
